While the Cubs continue to wait on Japanese free agent Shohei Ohtani to pick a major-league organization, they seized a moment Thursday to sign a much-needed starting pitcher in Tyler Chatwood.

“There are times to strike quickly, and there are times to wait and get value,” Cubs President Theo Epstein said after the announcement Chatwood had signed a three-year, $38 million contract.

“Starting pitching is an area where there is more demand than supply, (whereas) in certain areas of the relief market there’s a lot of supply. We felt if we could get the right starter on a reasonable deal before the winter meetings, it was something we would like to do. It wasn’t something we felt we had to do.”

Chatwood, 28 later this month, provides a nice fit for now behind Jon Lester, Kyle Hendricks and Jose Quintana in the Cubs’ rotation. There also is room for Ohtani, 23, the prized pitcher/hitter who could decide to sign with the Cubs or one of six other remaining finalists as early as next week at baseball’s winter meetings in Orlando, Fla.

Epstein declined comment on Ohtani, saying, “that’s our choice. We have a lot of respect for the player and the process. Therefore, we’ll let the information (regarding his signing) come from (his) side.”

Left-hander Mike Montgomery or another addition could serve as a sixth starter if Ohtani chooses the Cubs.

Meanwhile, the Cubs hope Chatwood can extend his road success to Wrigley Field, where he is 2-0 with an 0.69 ERA in two games. The Cubs believe the former Rockies starter will benefit pitching his home games away from hitter-friendly Coors Field. They think he will feel more confident to employ his curveball and other pitches instead of relying so much on his high-90 mph fastball and changing his release point.

“I can focus on making my pitches and work on it more consistently,” Chatwood said. “I don’t have to worry if (pitches) are going to move or not.”

Chatwood is tied with Stephen Strasburg for second in the National League in road ERA (2.57) over the last two seasons, trailing only Clayton Kershaw (2.16). Since joining the Rockies in 2012 after a trade from the Angels, Chatwood has a 3.18 ERA in 50 appearances (44 starts) on the road, compared to a 5.17 ERA in 53 games (44 starts) at Coors in high altitude.

Chatwood, who missed all of 2015, has made 52 starts in the last two seasons since recovering from his second Tommy John surgery, which he credits to rehab-free offseason training.

Despite adding Chatwood, “we have plenty more work to do,” said Epstein, whose next step could involve a closer while awaiting Ohtani’s decision.

“We’re certainly not done,” he said. “The focus of the winter has been pitching. We need to continue to add to the rotation and retool the bullpen to a certain extent. “